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Report: Warriors and Klay Thompson are in extension talks

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The Warriors’ lovable shooting guard wants to stick around, and is reportedly willing to take a discount to do so.

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New Orleans Pelicans v Golden State Warriors - Game Two Photo by Ezra Shaw/Getty Images

There’s terrific news coming out about the Golden State Warriors this Friday morning. No, it’s not just that we’re only three days away from the start of the Western Conference Finals, though that’s pretty exciting as well. It’s the fact that the Warriors and Klay Thompson are reportedly in discussions involving an extension.

Not only that, but Thompson is apparently willing to take a rather sizable discount. The report comes from The Athletic, and breaks down the situation:

The most he could get in the first year of an extension is a 120 percent raise. With the highest annual increases allowed, that would put Thompson’s extension at four years and just over $102 million. Add the $18.9 million he is due to make in 2018-19 and Thompson is looking at a maximum five-year salary of $121 million should he sign an extension.

If Thompson were to play out his contract and sign a new deal with the Warriors before the 2019-20 season, the maximum he would be eligible for — based on current salary-cap projections — is five years, $188 million. . .

. . . What’s more, two sources said talks have included Thompson taking an extension with an average of around $23 million a year — which would come out to about four years, $92 million, nearly $50 million less than he could get on the open market — and puts his five-year total at $111 million.

Our cap expert Patrick will swing by later with a breakdown as to exactly what this would mean for the team. But here’s the spoiler: it would be huge, and the tax implications could go an enormous way towards extending the championship window of this team.

There have always been rumors that Thompson might want to try being “The Man” elsewhere, but he has always insisted that Golden State is his dream scenario. This report certainly suggests that he was being authentic.

And while I always want the players, not the owners, to be maxing out the money in their bank accounts, it’s pretty terrific news knowing that, in all likelihood, Thompson is going to be around for the long haul.